A career in economics can be very challenging and interesting and finds multiple opportunities in government and business. Economists also teach and simultaneously carry on research in colleges and universities. Studying economics is of vital importance as it helps identify various problems faced by any economy and finds solutions for the same. In this ever changing global scenario, economics is also evolving and gaining much popularity as specialized analysis is required to study the economy and also provide viable and accurate solutions to help any county grow internally as well as emerge as a globally recognized country.
There are many specializations a candidate may opt for in economics. Industrial economics deals with various types of business organizations. These economists analyze investment problems, production costs and markets. Agricultural economists specialize in the analysis of crop production, farm management and other economically significant areas of agriculture. A labor economist specialized in labor related matters like government labor policies, labor unions and wages and hours. Similar other fields of specialization in economics are taxes, international trade, banking and finance, economic theory and comparative economic study.
There are many young college graduates who are involved in market research whereby they conduct surveys and interviews to determine consumer demand for multiple products. They are the people who are involved in clerical and statistical work which is related to economics. One can obtain a better paying job related to economics if one finishes a college degree or business administration degree. Apart from the general courses which a college degree offers, students can opt for specialized courses too to gain in-depth knowledge about the economic issues. Some specialized courses are income distributions, labor problems, money and banking and public finance. Students may also opt for related courses in the field of political science, history and statistics.
There are government agencies and companies which require graduate training in economics. Teaching economics will require an aspirant to at least hold a masters degree. Some prestigious colleges require their economics professors to hold a doctoral degree in economics. Information on careers in economics in the United States can be obtained from the American Economic Association at Nashville, which is a professional organization and over 16,000 economists being part of it. Career information can also be gathered from the Joint Council on Economic Education in New York.